David Bonderman, co-founder of $239 billion alternative asset management giant TPG, has died at the age of 82, the company announced Wednesday.
Bonderman and Jim Coulter, former colleagues at the Bass Family Office, founded TPG in 1992 and opened its first office in San Francisco.
Today, TPG has more than 1,800 employees worldwide and invests in a wide range of sectors, including technology, healthcare, real estate, and consumer.
The private equity giant went public in early 2022, making a strong debut on the market with a market value of more than $10 billion. Its market value has since ballooned to $24.3 billion, according to data compiled by LSEG.
Throughout his career, Mr. Bonderman served on the boards of several major companies, including automaker General Motors, airline Ryanair, and Kite Pharmaceuticals.
He was born in Los Angeles in 1942 and was also the owner of the Seattle Kraken, the National Hockey League's 32nd expansion franchise.
Bonderman, affectionately known as “Bond” by his friends and colleagues, graduated magna cum laude from Harvard Law School in 1966 and was a member of the Harvard Law Review.
He briefly served as an assistant professor at Tulane University School of Law before moving to Washington, D.C., where he served as a special assistant to the attorney general in the Civil Rights Division from 1968 to 1969 during the administration of President Lyndon Johnson.
While attending the prestigious Harvard University, he was awarded the Sheldon Fellowship, which allowed him to travel outside the United States for a year of research and discovery.
He has received several honors, including the American Academy of Achievement's Golden Plate Award and the Woodrow Wilson Award for Corporate Citizenship.
According to Forbes, Bonderman's net worth was approximately $7.4 billion.
He is TPG's controlling shareholder and has served on its board since its inception.
